A view of the Majestic Maersk vessel off Elsinore in Denmark in 2013. Rising energy costs must put upward pressure on production and transport costs. Indeed, Maersk, the world’s biggest container shipper, said last week that container freight rates had increased by 7 per cent in the first quarter. Photo: EPA-EFE

Opinion

Opinion

Macroscope by Neal Kimberley

Why we may escape a US-China trade war, but not turmoil in global trade

Neal Kimberley says on top of the economic uncertainty, rising oil prices, rising interest rates and a slowdown in Europe and Japan are creating conditions for a perfect storm. Economies should brace themselves for ill winds

A view of the Majestic Maersk vessel off Elsinore in Denmark in 2013. Rising energy costs must put upward pressure on production and transport costs. Indeed, Maersk, the world’s biggest container shipper, said last week that container freight rates had increased by 7 per cent in the first quarter. Photo: EPA-EFE